Evommune has agreed to pay $30 million to China’s Hinova Pharmaceuticals to get stuck into a niche of preclinical molecular glue degrader development that’s also being pursued by Novartis.
The deal gives Evommune the rights to develop and commercialize EVO570, an oral VAV1-directed molecular glue degrader, outside of China. As well as the $30 million upfront—consisting of $20 million cash and $10 million in warrants for Evommune stock—Hinova will also be in line for up to $1.1 billion in milestone payments, on top of tiered royalties should EVO570 make it to market.
Chengdu-based Hinova has already secured the go-ahead for a phase 1 study in the U.S., with a trial set to begin “imminently,” Evommune explained in a Nov. 4 release.
VAV1 is a signaling protein that drives T- and B-cell activation in a range of chronic inflammatory diseases. While JAK enzymes are broadly expressed across a spread of tissues and organs, VAV1 is mainly restricted to immune cells. This offers potential for an improved safety and tolerability profile, Evommune pointed out.
Novartis has already been persuaded by this rationale, paying molecular glue degrader expert Monte Rosa Therapeutics $150 million back in 2024 for the biotech’s phase 1-stage VAV1 candidate, as well as ownership of any subsequent therapies aimed at the same target.
Since then, Novartis has shared what it described as “highly encouraging” phase 1 data from the VAV1 therapy, dubbed MRT-6160, and has taken the asset into phase 2 studies for psoriatic arthritis and Sjögren's disease.
“VAV1 is a compelling target in immunology today, offering a potential path to JAK-like efficacy without the safety and tolerability challenges of other available therapies,” Evommune’s Chief Scientific Officer Jeegar Patel, Ph.D., said in a release.
“With a differentiated scaffold and structure-guided optimization resulting in sub-nanomolar potency, high selectivity and a profile supporting once-daily oral dosing, EVO570 has the potential to be a best-in-class approach for patients with rheumatoid arthritis and other T- and B-cell-driven autoimmune diseases,” Patel added. “We look forward to reporting phase 1 results and plan to advance it into its first phase 2 trial in rheumatoid arthritis in 2027.”
William Blair analysts said they were “encouraged” by Evommune’s deal for a VAV1 candidate, which they described as an “intriguing target that has had difficulty with selectivity historically.”
“The mechanism of action of VAV1 and its importance in mediating inflammation is well-characterized, with preclinical data supporting a potential role for therapeutic targeting of VAV1 in various inflammatory indications,” the analysts added in a Nov. 4 note.
According to the analysts, Evoimmune’s management had acknowledged “that the challenge historically has been selectively targeting VAV1 due to its structure, and that recent advancements with molecular glue degrader technology has been key in enabling VAV1 targeting, led by Monte Rosa.”
Molecular glue tech—including targeted protein degraders—has continued to be a hot area of deal-making. Last year saw Eli Lilly hand Magnet Biomedicine $40 million, while Gilead Sciences committed $85 million in upfront and potential option exercise payments for a chance to license a CDK2-directed asset from Kymera Therapeutics. Earlier this year, Novartis paid $40 million in its second pact with Orionis Biosciences.
Evommune could do with a pipeline win after having to abandon its hopes for dermatitis challenger EVO756 after the MRGPRX2 antagonist flunked a pair of phase 2 studies. The year got off to better start, with a mid-stage eczema win for its intravenous drug candidate, EVO301.
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